WAEC Economics 2013 Objective — Question 7
Question 7 of 50 from the West African Examinations Council (WAEC) Economics 2013 Objective paper, with the correct answer and a full explanation.
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In the balance of payments of a country, tourism is classified under
- A. capital account
- B. invisible tradeCorrect
- C. merchandise trade
- D. official reserves
Explanation
The balance of payments has a current account, which includes visible and invisible trade. Tourism is recorded as invisible trade.
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